camden Wilson 2.02e vocabulary

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Across
  1. 3. The situation that exists when supply is greater than demand
  2. 5. The situation that exists when demand is greater than supply
  3. 8. The quantity of a good or service that buyers are ready to buy at a given price at a particular time
  4. 11. Any circumstance under which buyers and sellers exchange goods or services for a price
  5. 12. The best time for consumers to buy; characterized by large supply, small demand, and low prices
  6. 13. The best time for producers to sell; characterized by large demand, small supply, and high prices
  7. 15. Actual price that prevails in a market at any particular moment
  8. 16. Government restrictions on the minimum and/or maximum prices of certain products
Down
  1. 1. The amount of satisfaction a good or service will provide a customer
  2. 2. One price compared to another; the ratio between two prices
  3. 4. The amount of money paid for a good, service, or resource
  4. 6. The maximum price buyers are willing and able to pay for a product
  5. 7. The people who make or provide goods and services
  6. 9. A maximum legal price that businesses can charge for certain products
  7. 10. People who use goods and services to satisfy their wants
  8. 14. the minimum price producers are willing and able to receive for a product